We drove by the place yesterday, looks like central air might be an issue.

I normally never plan for best case scenarios and always air on the side of conservatism.

List of items to be done - (inspection next weekend)HVACAir Conditioner addition to current forced air furnaceElectricalGarage door motor to 1 car garage door Install recessed lights in living room, and new light fixtures in bedrooms, living rooms, kitchenReplace light switches/outlets to square plastic whiteFlooringRemove carpet, tack boards one main floor and top floorInstall vinyl plank flooring throughout main floor Same baseboardPaintingPaint all wood trim whitePaint kitchen cabinets whitePaint all wallsStructuralRemove half of kitchen wallSliding door for half bath on main floorKitchenReplace kitchen counter top, and match bathroom vanities with sameReplace kitchen sinkReplace appliances with stainless steelBathrooms Replace countertops with same kitchen counter materialGeneral workInstall window blinds on all windows

We would probably be able to finance the initial purchase, but would need to have the two units we are not living in cash flowing ASAP.As far as we can see it will need LBP remediation (in Alabama you can seal it and paint over it) so probably $6k in total for both units to be rented, and an air system in place.

I am committing my self to this job for at least a year so that I don't have to repay a signing bonus but after that I will be up in the air on what to do.

I wouldn’t want this to be an ongoing issue in the future so how do you guys go about handling this with getting penalized with air bnb?

You need to have more than 1 ball in the air because you never know from where you will catch the next break / deal.  

But be prepared to change up a bit from the Air B&B for when the market corrects again as vacations may dwindle a bit.

I don't personally own anything on Air BnB but we had an interesting experience in one not too long ago.

Is it a place where people are making very little money and have none left over, or is it a place where there are open air drug deals during the day and cars broken into every night?